CUNY opens emergency relief fund for struggling students with $2.75 million in private donations

Main entrance to CUNY, on Amsterdam Ave. at W. 138th St.
Main entrance to CUNY, on Amsterdam Ave. at W. 138th St.

The City University of New York will dole out $500 grants funded by private donations to more than 1,000 low-income students struggling to make ends meet during the coronavirus pandemic, the Daily News has learned.
CUNY officials hope the new relief effort — started with two $1 million donations from the Dimon and Petrie foundations — will eventually grow to $10 million.
​“The coronavirus pandemic is having a devastating economic impact on many of our students, and this unprecedented emergency fund will provide rapid-response financial support to those who need it most,” said Chancellor Felix Matos Rodriguez.
About 14,000 students meet the “financial-need and academic criteria” for the grants, and will be in a pool from which recipients will be picked through a lottery, officials said.
Students who are eligible must be undergraduates within 12 credits of a degree, have a grade point average of at least 2.0, and whose families aren’t expected to contribute to tuition through the federal financial aid formula.
The initial round of grants will be for $600,000 and will go to 1,200 students, officials said. Checks and direct deposit payments will be disbursed next week and available to students by April 20.

In addition to the $2 million from the two foundations, CUNY’s new fund also received $750,000 from other donors, officials said. Other benefactors are being sought.

The $500 grants come on top of a recent City Council initiative to give $400 each to 1,600 community college students for food assistance.

The median household income for families of CUNY’s 275,000 students is $38,000. Close to 40% of students come from families earning less than $20,000 a year. Many CUNY students and their family members have lost jobs amid the pandemic and are struggling to meet basic needs, officials said.

No comments:

Powered by Blogger.